Stand-up India loans sanction benefits over 80% women entrepreneurs in India: Govt Data
- ByStartupStory | December 27, 2022
Women entrepreneurs have emerged as beneficiaries of the government of India’s Stand-up India scheme. Since its inception in April 2016, 80.2 percent of bank loans sanctioned under this scheme have gone to women-led business units.
According to data shared recently by Bhagwat Karad, minister of state in the finance ministry, 1,59,961 loans were sanctioned to entrepreneurs as of December 2, 2022, with 1,28,361 loans sanctioned to women entrepreneurs, 23,797 loans sanctioned to scheduled caste entrepreneurs, and 7,803 loans sanctioned to scheduled tribe entrepreneurs.
As of March 2022, Rs 30,160 crore were sanctioned under the scheme to 1,33,995 beneficiaries since the inception of the Scheme, of which Rs 24,809 crore was sanctioned to 1,08,250 women entrepreneurs, Rs 3,976 crore to 19,310 SC beneficiaries, and Rs 1,373 crore to 6,435 ST entrepreneurs.
International Finance Corporation (IFC) and Intellecap – the advisory arm of impact investment firm Aavishkaar Group, estimates credit demand by women-owned very small businesses (WVSEs) in the country is worth Rs 83,600 crore, earlier this year.
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